Short Interest in Amdocs Limited (NASDAQ:DOX) Decreases By 13.9%

Amdocs Limited (NASDAQ:DOX - Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 2,850,000 shares, a decline of 13.9% from the September 30th total of 3,310,000 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average daily volume of 579,100 shares, the short-interest ratio is currently 4.9 days.

Analysts Set New Price Targets

DOX has been the topic of several research reports. StockNews.com upgraded Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Friday. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $102.00.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.34 during midday trading on Tuesday, hitting $88.63. The company had a trading volume of 433,985 shares, compared to its average volume of 672,887. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The business's 50-day simple moving average is $87.17 and its 200-day simple moving average is $83.57.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. On average, research analysts predict that Amdocs will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were paid a $0.479 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.16%. Amdocs's dividend payout ratio (DPR) is 42.92%.

Institutional Trading of Amdocs

Several institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC lifted its position in Amdocs by 0.4% in the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company's stock valued at $2,150,000 after buying an additional 120 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Amdocs by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company's stock valued at $457,000 after purchasing an additional 129 shares during the last quarter. Y.D. More Investments Ltd raised its position in Amdocs by 1.5% in the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company's stock valued at $741,000 after purchasing an additional 139 shares during the period. Blue Trust Inc. lifted its stake in Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock worth $90,000 after purchasing an additional 174 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Amdocs by 3.2% during the third quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company's stock worth $492,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.